- USD/ZAR is currently trading around 14.40 levels.
- It made intraday high at 14.44 and low at 14.33 levels.
- Intraday bias remains slightly bullish for the moment.
- A daily close above 14.50 will take the parity higher towards key resistances around 14.70, 14.94, 15.02, 15.22, 15.40, 15.70, 15.92 and 16.10 marks respectively.
- Alternatively, a daily close below 14.35 will drag the parity down towards key supports at 14.22, 14.15 and 13.83 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position on USD/ZAR only above 14.50, stop loss at 14.30 and target of 14.70/14.94/15.02.
